SpaceX, the privately held aerospace company led by tech centibillionaire Elon Musk, made another Bitcoin transfer on Wednesday, continuing a recent flurry of moves.
According to Lookonchain analysts, citing on-chain data from Arkham Intelligence, the company moved 1,021 Bitcoin ($94.5 million worth).
The SpaceX-labelled wallet sent the Bitcoin to two fresh addresses, with each receiving 614 BTC and 407 BTC. It’s unclear whether the aerospace company is simply adjusting its storage scheme, preparing to sell the funds, or intends to use the BTC in some other way.
The Wednesday transfer marks the second such transaction this month and ninth this year, totaling roughly 8,910 BTC ($925 million), conducted through institutional custody platform Coinbase Prime.
According to Arkham, SpaceX currently holds approximately 3,991 BTC, worth around $367.4 million as of today. Bitcoin is trading hands for $92,845 as of publication time, down 0.8% in the past 24 hours. The aerospace company once held 25,000 BTC in 2022 before reducing its position to 8,285 BTC by June that year, likely spurred by a market-wide shock triggered by the implosion of Terra-Luna in May, the failure of Sam Bankman-Fried’s FTX empire in November, and the ensuing domino effect.
Elon Musk’s companies were among the earliest institutional Bitcoin adopters, with electric car maker Tesla reporting roughly 11,900 BTC holdings in its coffers.
SpaceX’s Blockbuster $1.5 Trillion IPO
The on-chain transfers come as SpaceX is moving ahead with plans for an initial public offering that could raise well over $30 billion, Bloomberg reported on Tuesday, citing people familiar with the matter.
The Musk-helmed company is targeting a valuation of approximately $1.5 trillion, making it the largest public market offering in history. SpaceX’s management is aiming for a listing as soon as mid-to-late 2026, though the timing is contingent on market conditions and other factors, the sources told Bloomberg.
If the IPO goes through, investors won’t just be purchasing into rockets and satellites. They’ll also be buying into a firm that holds millions worth of the world’s largest and oldest cryptocurrency.
Source: https://zycrypto.com/spacex-just-transferred-another-95-million-in-bitcoin-amid-plans-to-launch-worlds-biggest-ipo-in-2026/
